Patriot Drills 1.17% Li2O over 61.3 m and 1.39% Li2O over 26.6 m in Next Series of Drill Results Reported from its Winter Drill Program at the Corvette Property, Quebec
Highlights
- Continued strong lithium grades returned from drill holes testing the main pegmatite body beneath the shallow lake connecting the CV5 and CV1 pegmatite outcrops
1.17% Li2O and 156 ppm Ta2O5 over 61.3 m, including2.76% Li2O and 341 ppm Ta2O5 over 10.2 m (CV22-025)0.95% Li2O and 134 ppm Ta2O5 over 65.7 m, including1.39% Li2O and 125 ppm Ta2O5 over 26.6 m (CV22-027)1.14% Li2O and 156 ppm Ta2O5 over 29.3 m, including1.42% Li2O and 240 ppm Ta2O5 over 8.0 m (CV22-026)1.25% Li2O and 185 ppm Ta2O5 over 33.5 m, including2.90% Li2O and 384 ppm Ta2O5 over 5.0 m (CV22-031)1.19% Li2O and 120 ppm Ta2O5 over 20.2 m (CV22-024)
- Preliminary interpretation of drill results to date suggest that lithium and tantalum grades are increasing to the east
- Core assay results for the final four (4) drill holes completed during the winter/spring program remain to be reported
- The summer/fall phase of the 2022 drill campaign has commenced with two (2) drill rigs currently operating on site at the CV5-1 pegmatite corridor
VANCOUVER, British Columbia, June 13, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce core sample analytical results for an additional ten (10) drill holes completed during the winter/spring phase of its 2022 drill campaign at the Company’s wholly owned Corvette Property (the “Property”). The Property is located proximal to the regional and all-weather Trans-Taiga Road and powerline infrastructure, within the James Bay Region of Quebec. The primary objective of the 2022 exploration is to infill drill and further delineate the spodumene pegmatite body present along the CV5-1 corridor, with the intent of completing an initial mineral resource estimate this fall.
Blair Way, Company President, CEO and Director, comments: “I could not be more pleased with the assay results from our winter drill program. We are consistently seeing wide intervals of lithium mineralization in the CV5-1 Pegmatite corridor over a lateral distance of at least 1.4 km. To see higher grades and big intercepts to the east, at the edge of our drilling completed to date, is very exciting as we commence our summer drill program. The mineralized body remains open along trend and at depth, with drills currently turning at both the east and west end of the corridor to further test the scale of this discovery. I am also looking forward to another site visit after PDAC to spend some time with the site team and work through the details of the summer drill program as we prepare for the arrival of the third drill rig in July”.
Core assay results are announced herein for drill holes CV22-020, 021, 022, 023, 024, 025, 026, 027, 031, and 033, and continue to demonstrate the presence of wide intervals of lithium mineralization along the CV5-1 pegmatite corridor. A summary of lithium (and tantalum) intercepts for the ten (10) drill holes reported herein is presented in Table 1 and Figures 2 and 3. Drill hole locations are presented in Figure 1.
Table 1: Mineralized drill intercept summary for holes completed in 2022 at the CV5-1 Pegmatite corridor https://www.globenewswire.com/NewsRoom/AttachmentNg/9b686632-eaad-4968-b20c-2a1b0ae7ba59
Drill holes CV22-022, 023, 024, 025, 026, 027, and 031 were designed to test for mineralized pegmatite beneath the shallow lake between the CV5 and CV1 outcrops (Figures 1, 2, and 3). Collectively, these drill holes confirm that the main pegmatite body trending through this corridor remains mineralized in lithium and tantalum and, further, the mineralized zone appears to widen considerably along strike between drill holes CV22-024 (
Drill holes CV22-020 and 033 were designed to further constrain the orientation (i.e. the dip) of the CV1 Pegmatite outcrop. Both holes intersected moderate to strong intervals of spodumene pegmatite. Drill hole CV22-033, collared on the north side of CV1 and oriented southerly, intersected an interval of pegmatite near surface of
Collectively, the drill information collected to date supports the interpretation of the CV1 outcrop representing a splay off the main pegmatite body at depth, or a second sub-parallel trending body marked by a fault offset between. The drill holes completed over this area are widely spaced (Figure 3), and therefore, additional infill drilling is required to refine the interpretation of the area.
Drill hole CV22-021 was designed to test the orientation of the main pegmatite body trending beneath the lake at this location. The drill hole returned only a narrow interval of lithium mineralization at
The drilling to date in the area around the CV1 Pegmatite outcrop has demonstrated potential for very strong lithium grades over wide widths, most notably in drill hole CV22-017 at
The Company recently re-commenced its drilling operations at the Property after a short break, following its 4,345 m twenty (20) hole winter drill program, and is fully funded to continue its 2022 drill campaign with an additional 15,000 m of NQ coring planned over the summer/fall period. This drilling will focus on continued land-based infill and step-out holes at the CV5-1 corridor, as well as testing of new regional targets (see news release dated June 2nd, 2022). The Company will add a third drill rig to the program, expected to arrive by mid-July, as well as a lake barge, which will allow continued focus on delineating the main pegmatite body beneath the shallow glacial lake between the CV5 and CV1 pegmatites.
The surface component of the 2022 drill program will commence in mid-June with detailed outcrop mapping proximal to the known spodumene pegmatite outcrops present across the Property (CV1 through CV12), as well as prospecting over more than 25 km of trend across the Property that has never been evaluated for lithium pegmatite.
The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
Figure 1: 2022 drill hole collar locations https://www.globenewswire.com/NewsRoom/AttachmentNg/9d0d3fc8-daa7-496b-a0d8-d21cb53a70f2
Figure 2: Core sample assay highlights for drill holes CV22-015, 016, 018, 019, 022, and 024 https://www.globenewswire.com/NewsRoom/AttachmentNg/0972fd4c-6852-4a76-8604-1bc3133d9b44
Figure 3: Core sample assay highlights for drill holes CV22-017, 020, 021, 023, 025, 026, 027, 031, and 033 https://www.globenewswire.com/NewsRoom/AttachmentNg/5ba9a2d1-da24-472e-92bb-c091ec0c435e
Quality Assurance / Quality Control (QAQC)
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately
All core samples collected were shipped to SGS Canada’s laboratory in Lakefield, ON, for standard sample preparation (code PRP89) which includes drying at 105°C, crush to
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor (the CV5-1 Corridor), which is part of the more than 25-km long CV Lithium Trend extending across the Property. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, CV7, and CV11 pegmatites and has returned drill intercepts of
Qualified Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-1 spodumene pegmatite corridor with drill intercepts of
The Company also holds
The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a
For further information, please contact us at info@patriotbatterymetals.com Tel: +1 (778) 945-2950, or visit www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY”
Blair Way, President, CEO, & Director
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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